Falling commodities prices despite QE - What does that mean?

During QE3, the latest round of the Fed’s quantitative easing, the stock market rose. We all know that. But did you also know that commodities fell?
That’s right: QE3 had zero effect on commodities — or maybe even a negative effect. In fact, an unbiased observer of the trend might conclude that the Fed drove commodity prices down. That, of course, would be heresy to investors who believe that the Fed’s actions have been inflating all financial markets………………………………………..Full Article: Source